AMP Capital plans to expand its portfolio in Asia by setting up an unlisted property arm in Singapore in 2011.
Andrew Bird, director and chief investment officer at AMP Capital, said the company will set up a new fund and invest more in global marketing strategies, as well as expand its international distribution network.
“We want to grow our presence in Asia and are particularly interested in developing an unlisted business there," he said.
The investment company will also be taking an organic growth approach in Singapore and Japan, as well as look for opportunities in China through acquisitions or grow organically.
“The global unlisted market is still much bigger than the listed market, which is something that is often overlooked, and from the Australian perspective the past decade has been the era of the REIT but that’s a small part of the overall universe.”
“For us, the key to be in Asia is to attract capital worldwide, at the moment its more likely that those big pots of money will be looking at unlisted rather then listed,” said Mr. Bird.
He added that listed capital will play an important role as a means of raising fast capital.